Changing region and payment affects my storage/media stored in icloud or on device?

Hi All/Apple support, i would like to change my region from UK to India and change the payment method as well. I have taken monthly icloud subscription in UK so i got caught up with few queries

Will it affect my data on device or icloud if i change the region and update the payment method?
So is it like downgrading from UK subscription and again upgrading new one with indian payment details?
During downgrade process all the data goes deleted?
Do we have any other way not to loose data and just change the region!?

All those queries are kinda related to the same thing but I’m bit confused if that affects my data or not.